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Informist, Friday, Jul 19, 2024

 

--RBI: Assessed impact of Microsoft svcs outage on regulated entities 

--RBI on Microsoft outage: Critical systems of most bks not in cloud 

--RBI on Microsoft outage: Only few banks using CrowdStrike tool 

--RBI on Microsoft outage: Only 10 bks, NBFCs had minor disruptions 

--RBI on Microsoft outage: Disruptions to bks, NBFCs fixed, being fixed 

--RBI on Microsoft outage: Overall, Indian fincl sector insulated 

--RBI on Microsoft outage: Issued advisory to regulated entities 

 

NEW DELHI - The Indian financial sector, which is regulated by the Reserve Bank of India, remains insulated from the global outage of the services provided by Microsoft, the central bank said today. Just 10 banks and non-banking financial companies had minor disruptions that have either been resolved or are being resolved, the RBI said.

 

"The Reserve Bank has made an assessment of the impact of this outage on its Regulated Entities. Critical systems of most banks are not in cloud and further, only a few banks are using the CrowdStrike tool," the RBI said. 

 

Outages related to products of Microsoft and global cybersecurity firm CrowdStrike adversely affected several companies across different industries worldwide. In the Indian stock markets, operations of some brokerages were hit because of their usage of the outage-affected products.

 

Brokerages 5paisa and Nuvama's systems were hit by the outage, while the National Stock Exchange and BSE said they were unaffected. Earlier in the day, HDFC Bank and State Bank of India said that their systems were unaffected by the outage of Microsoft platforms.

 

The RBI has issued an advisory to its regulated entities for taking necessary steps "to remain alert and ensure operational resilience and continuity", the central bank said.  

 

Windows hosts related to CrowdStrike agent "Falcon Sensor" faced outages and crashed due to a recent update received in the product. The concerned windows hosts experienced a "Blue Screen of Death" related to Falcon Sensor, India Computer Emergency Response Team said.  End

 

Reported by Shubham Rana

Edited by Vandana Hingorani

 

 

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